Friedman executive could face SEC suit - report

NEW YORK (MarketWatch) -- A top executive at Friedman Billings Ramsey Group
FBR, -0.11%
may face civil charges brought by the Securities and Exchange Commission, according to a report Thursday in the Washington Post. Co-Chairman and Co-Chief Executive Emanuel Friedman, 58, who said he will retire in June, could face charges of insider trading in a client's stock, the report said. Shares of Arlington, Va.-based Friedman Billings fell 26 cents to close at $13.07 on Wednesday.

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